Is Indianapolis, IN 46227 a buyer’s or seller’s market?

The Indianapolis housing market right now

In the three months ending August 31, 2026, 15% of homes in Indianapolis, IN 46227 sold above their list price, the typical home went under contract in 21 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 163 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (17% then), homes sold more slowly (16 days then) and the median sale price rose 6% to $243,894. Overall, Indianapolis is less competitive than a year ago, which gives buyers more room.

Within Marion County, homes here sell faster than in 52% of the county’s ZIP codes, and sell less often over asking than in 73%. On our competition score, Indianapolis ranks #179 of 306 IN ZIP codes with enough sales (score 47 out of 100).

Nearby, buyers who want less competition could look at Indianapolis 46204 (4% sold over asking) or Indianapolis 46202 (8% sold over asking), while Indianapolis 46220 (32% sold over asking) and Indianapolis 46278 (30% sold over asking) are even more competitive.